Stone Fox Vocabulary
petty cash voucher
a form used to record the payments made from a petty cash fund
cash payments journal
a special journal used to record and post transactions involving the receipt of cash
cash receipts journal
a special journal used to record and post transactions involving the receipt of cash
petty cash fund
a special-purpose fund used to handle payments involving small amounts of money
Bank reconciliation statement
a statement that accounts for all differences between the balance on the bank statement and thebook balance of cash
promissory note
a written promise to pay a specified amount of money on a specific date
Does a bank reconciliation statement have a debit and a credit column?
No, it has a column for listing subtotals and a column for listing totals.
Where do I record an additional cash investment by the owner?
Cash receipts journal
The Petty Cash Fund has a debit or a credit balance?
Debit
If I receive a payment on a Note, I book it in the Cash Receipts Journal as a debit to ___________ and a credit to ___________
Debit to Cash Credit to notes receivable Credit to interest earned
Checks issued by a firm and entered in its records that have not been paid by the bank are called ________ checks
cancelled
outstanding checks
checks that have been recorded in the cash payments journal but have not yet been paid by the bank
To transfer ownership of a check from one party to another, it is necessary to ________ the check.
endorse